Comerica Bank bought a new position in shares of Meta Financial Group, Inc. (NASDAQ:CASH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,234 shares of the savings and loans company’s stock, valued at approximately $762,000. Comerica Bank owned approximately 0.10% of Meta Financial Group at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp increased its stake in shares of Meta Financial Group by 115.4% in the third quarter. Bank of New York Mellon Corp now owns 103,779 shares of the savings and loans company’s stock valued at $8,137,000 after buying an additional 55,590 shares during the period. Rhumbline Advisers boosted its holdings in Meta Financial Group by 67.5% in the third quarter. Rhumbline Advisers now owns 17,254 shares of the savings and loans company’s stock valued at $1,353,000 after acquiring an additional 6,951 shares during the last quarter. Advisor Group Inc. boosted its holdings in Meta Financial Group by 48.1% in the third quarter. Advisor Group Inc. now owns 4,295 shares of the savings and loans company’s stock valued at $337,000 after acquiring an additional 1,394 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Meta Financial Group in the third quarter valued at approximately $321,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Meta Financial Group in the third quarter valued at approximately $258,000. 76.78% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently commented on the company. FBR & Co upgraded Meta Financial Group from a “neutral” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Tuesday, October 31st. ValuEngine cut Meta Financial Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $88.00 target price on shares of Meta Financial Group in a report on Thursday, October 12th. Zacks Investment Research upgraded Meta Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, B. Riley set a $100.00 price target on Meta Financial Group and gave the stock a “buy” rating in a report on Thursday, November 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Meta Financial Group currently has an average rating of “Buy” and an average target price of $95.75.
In related news, Director Frederick V. Moore sold 450 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $71.75, for a total value of $32,287.50. Following the completion of the sale, the director now directly owns 100 shares of the company’s stock, valued at approximately $7,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick V. Moore purchased 1,393 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was bought at an average cost of $71.70 per share, with a total value of $99,878.10. Following the completion of the transaction, the director now directly owns 100 shares in the company, valued at approximately $7,170. The disclosure for this purchase can be found here. 6.06% of the stock is currently owned by corporate insiders.
Meta Financial Group, Inc. (NASDAQ:CASH) opened at $92.90 on Tuesday. The stock has a market capitalization of $915.90, a P/E ratio of 13.52 and a beta of 0.90. Meta Financial Group, Inc. has a twelve month low of $60.70 and a twelve month high of $106.90. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Thursday, December 7th. Meta Financial Group’s payout ratio is 10.86%.
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About Meta Financial Group
Meta Financial Group, Inc is a unitary savings and loan holding company. The Company operates through its banking subsidiary, MetaBank (the Bank). Its segments include Payments, Banking, and Corporate Services/Other. MetaBank is both a community-oriented financial institution offering a range of financial services to meet the needs of the communities it serves and a payments company providing services on a nationwide basis.
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